Core Insights - FuelCell Energy, Inc. has entered a long-term service agreement with Gyeonggi Green Energy Co., Ltd. to supply 42 upgraded 1.4-megawatt carbonate fuel cell modules, expecting approximately $160 million in revenue over the agreement's term [1][3][4] - The Hwaseong Baran Industrial Complex, the world's largest fuel cell power platform, has a capacity of 58.8 megawatts, providing power to around 135,000 homes and generating about 250 billion kilocalories of hot water annually [2][8] - The agreement supports South Korea's Hydrogen Economy Roadmap, which aims to supply 15 gigawatts of power from fuel cells by 2040, addressing environmental issues such as fine dust pollution [3][4] Company Overview - FuelCell Energy is a global leader in sustainable clean energy technologies, focusing on proprietary fuel cell technology platforms that serve various customers, including businesses and governments [7] - The company is expanding its market share in Korea by establishing long-term service relationships and agreements, contributing to the country's clean energy targets [4][5] - FuelCell Energy's carbonate and solid oxide platforms are versatile, supporting power generation and combined heat and power applications, and are fuel flexible, utilizing various fuels including hydrogen and biogas [5][6] Environmental Impact - The Hwaseong Baran Industrial Complex has a CO2 reduction effect of approximately 220,000 tons and a substitution effect for crude oil imports of about 120,000 tonnes of oil equivalent [8] - FuelCell Energy's technology is deployed across South Korea, producing over 100 megawatts of clean electricity without combustion, aligning with the country's environmental goals [3][4]

DANBURY, Conn. and HWASEONG-SI, Korea, May 28, 2024 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (Nasdaq: FCEL) and Gyeonggi Green Energy Co., Ltd. (GGE), today announced that pursuant to a long term service agreement GGE has agreed to purchase 42 1.4-megawatt upgraded carbonate fuel cell modules from FuelCell Energy to replace existing fuel cell modules at the Hwaseong Baran Industrial Complex fuel cell power platform, the world’s largest fuel cell power platform, located in Hwaseong-si. The agreement, which ...

Core Insights - FuelCell Energy (NASDAQ:FCEL) has experienced a significant increase in stock price, attributed to the resurgence of meme trading rather than any specific company news [1] - The high short interest of 21.96% in FuelCell's float has contributed to the stock's upward movement, as investors speculate on potential short squeezes [1][2] Group 1: Stock Performance and Market Sentiment - FCEL stock gained approximately 20% over the past five sessions, indicating potential for further upside speculation [3] - The return of meme stock trading, initiated by social media influencer Keith Gill, has led to increased interest in previously targeted securities, including FCEL [1] Group 2: Short Interest and Trading Dynamics - A short interest above 20% is considered extremely high, suggesting significant pessimism among investors, but also creating opportunities for contrarian trades [2] - Short traders face risks if the stock price rises, as they must buy back shares at a higher price, potentially leading to margin calls and upward pressure on the stock [4] Group 3: Analyst Ratings and Fundamentals - Analysts currently rate FCEL shares as a consensus hold, with no buy ratings issued in the past three months, indicating caution regarding the company's fundamentals [5]

Earnings season has been terrible for clean energy companies.The week couldn't have been much worse for clean energy companies that once had hopes of disrupting the energy industry. As interest rates rise and the market looks for profitable companies, there aren't many to be found in the clean energy industry.According to data provided by S&P Global Market Intelligence, shares of Nikola Corp (NKLA -7.74%) fell as much as 16.7% this week, FuelCell Energy (FCEL -4.11%) dropped 21.1%, and Sunnova Energy (NOVA ...

FuelCell Energy's Tri-gen technology produces three products: renewable electricity, renewable hydrogen, and usable waterMarks Toyota's first port vehicle processing facility in the world to be powered by onsite-generated, 100 percent renewable electricityBoth light-duty and Class 8 heavy-duty fuel cell electric vehicles have been fueled using Tri-gen generated renewable hydrogen LONG BEACH, Calif., May 02, 2024 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc. (NASDAQ:FCEL) and Toyota Motor North America, Inc. (To ...

FuelCell Energy's Tri-gen technology produces three products: renewable electricity, renewable hydrogen, and usable water Marks Toyota's first port vehicle processing facility in the world to be powered by onsite-generated, 100 percent renewable electricity Both light-duty and Class 8 heavy-duty fuel cell electric vehicles have been fueled using Tri-gen generated renewable hydrogen LONG BEACH, Calif., May 2, 2024 /PRNewswire/ -- FuelCell Energy, Inc. (Nasdaq: FCEL) and Toyota Motor North America, Inc. (To ...

Continuing Strong Support for FuelCell Energy Platforms Total of $13 Million in Senior and Subordinated Credit Facilities DANBURY, Conn., April 29, 2024 (GLOBE NEWSWIRE) -- FuelCell Energy, Inc., (NASDAQ:FCEL) today announced that the Company closed on a project debt financing transaction with Liberty Bank and Connecticut Green Bank for the company's two fuel cell projects in Derby, Conn., which recently began operations. The financing is structured as back leverage to a project finance subsidiary of the Co ...

FuelCell Energy (NASDAQ:FCEL) just announced an updated and extended joint development agreement with Exxon Mobil’s (NYSE:XOM) technology and engineering unit. The expanded deal centers on carbon fuel-cell technology which captures carbon dioxide emissions from industrial sources while “simultaneously generating electricity and hydrogen.” FCEL stock is popping up by roughly 3% as of this writing.According to a press release, FuelCell will continue to develop the underlying carbon-capture technology alongsid ...

FuelCell Energy, Inc. (NASDAQ:FCEL) Q1 2024 Earnings Conference Call March 7, 2024 11:00 AM ET Company Participants Tom Gelston - Senior Executive Vice President, Finance & Investor Relations Jason Few - President & Chief Executive Officer Mike Bishop - Executive Vice President, Chief Financial Officer & Treasurer Mark Feasel - Executive Vice President & Chief Commercial Officer Conference Call Participants George Gianarikas - Canaccord Genuity Manav Gupta - UBS Eric Stine - Craig-Hallum Ryan Pfingst - B Ri ...

Core Insights - FuelCell Energy reported a revenue of $16.69 million for the quarter ended January 2024, marking a year-over-year decline of 55% [1] - The reported revenue was a surprise of -26.57% compared to the Zacks Consensus Estimate of $22.73 million [1] - The EPS for the same period was -$0.05, consistent with the previous year, while the consensus EPS estimate was -$0.08, resulting in a surprise of +37.50% [1] Revenue Breakdown - Revenues from Generation were $10.49 million, below the estimated $11.59 million [2] - Revenues from Advanced Technologies were $4.58 million, compared to the average estimate of $6.13 million [2] - Revenues from Service were $1.61 million, significantly lower than the average estimate of $10.24 million [2] Stock Performance - Shares of FuelCell Energy have returned -2.4% over the past month, while the Zacks S&P 500 composite increased by +3.2% [2] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [2]